globalCOAL Newcastle Coal Early (122 days) Single Expiry Option32419668

Description

The ICE gC Newcastle Coal Single Expiry Options contract is an option on an underlying monthly expiry ICE gcC Newcastle Coal futures contract as appropriate. A quarterly single expiry option will expire equally into the three underlying months which make up that quarter. A calendar year single expiry option will expire equally into the twelve underlying months which make up that calendar year. For example, a 5 lot Q1 gC Newcastle Coal single expiry option, if exercised, will result in 5 lots of each of a Jan, Feb , and Mar Newcastle Coal futures contract. The quarterly single expiry option and the calendar year single expiry option both have separate but identical underlying futures contracts, which is identical to the ICE Rotterdam Coal Futures contract.

Market Specifications

Trading Screen Product Name
Newcastle Coal Futures
Trading Screen Hub Name
Newcastle 1x Cal (122 days)
Commodity Code
NC1
Trading Hours
07:00 - 23:00, London time
Trading Model
Continuous trading throughout trading hours.
Unit of Trading
Any multiple of 1,000 tonnes of coal.
Quotation
US Dollars and cents per tonne
Strike Price Increments
Multiples of 5 US cent per tonne in a range of $10 - $150/tonne.
Minimum Price Fluctuation
Screen: $0.01 per tonne.

EFP/EFS/Block: $0.01 per tonne
Maximum Price Fluctuation
No limits.
Daily Margin
All open contracts are marked-to-market daily.
Option Premium
Equity Style. Premiums are paid at the time of the transaction.
Trading Period
Calendar Year options: 2 consecutive years.
Last Trading Day
Close of business 122/214/305 calendar days before the start of the contract period. If that day is a non-business day, expiry will be on the preceding business day.
Exercise and Automatic Exercise
Exercisable into ICE Rotterdam/Richards Bay/gC Newcastle Coal supporting futures, as appropriate. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Manual exercise/abandonment must be for the entire calendar year contract as appropriate.
Underlying Contract
GLOBALCOAL NEWCASTLE EARLY (122 DAYS) SINGLE EXPIRY FUTURE
MIC Code
IFEU
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York8:00 PM - 6:00 PM
20:00 - 18:00
7:55 PM
19:55
London1:00 AM - 11:00 PM
01:00 - 23:00
12:55 AM
00:55
Singapore9:00 AM - 7:00 AM
09:00 - 07:00
8:55 AM
08:55
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Codes

Clearing Admin Name
Coal Newc
Physical
NC1
Logical
NCF
GMI(FC)
R&N A.C.N.